SGB Update Sports & Fitness
Obit: Shelby Modell
Shelby Modell, matriarch of the longtime family-owned Modell’s Sporting Goods chain and a noted philanthropist, passed away at the age of 98.
Itochu Secures Reebok’s Rights In Japan
Itochu Corp reached an agreement with Authentic Brands Group (ABG) for rights to distribute market and license Reebok in Japan.
Slinger Bag Rebrands To Connexa Sports Technologies
Slinger Bag Inc. announced said it has rebranded to Connexa Sports Technologies Inc. to reflect its positioning as a broader connected sports technology company.
On Hikes Guidance On Robust First Quarter
On, the Swiss running brand, raised its outlook for sales and earnings for the current year after reporting first-quarter results that easily topped Wall Street estimates. Net sales vaulted 67.9 percent in Q1 2022 and sales are now expected to grow at least 44 percent in 2022.
Topgolf To Add Two Venues In Pennsylvania
Topgolf Entertainment Group announced it would open venues in Philadelphia and King of Prussia, PA.
F45 Training’s Q1 Sales More Than Double
F45 Training Holdings, Inc. reported adjusted EBITDA surged 235 percent in the first quarter ended March 31 as sales climbed 175 percent. System-wide visits increased 6 percent globally to 7.2 million and 37 percent in the U.S.
Club Champion Opens 100th Fitting Studio
Club Champion opened its 100th fitting studio and said it’s on track to have 115 studios worldwide by the end of 2022.
PXG Opens Store In Fairfax
PXG opened a location in Fairfax, VA. The golf apparel and club maker now operates 14 locations.
Ardian Acquires Stake In Nutripure
Ardian, the private-equity firm, has acquired a stake in Nutripure, a digital brand specializing in sports nutrition and food supplements.
Catrike Adds To Sales Team
Catrike, the maker of recumbent trikes based in Orlando, FL, added industry veterans Carlos Pereyra and Darrell Cunningham to its sales team. They join Kristin Dismuke to round out the group.
Peloton, NordicTrack Maker IFit Settle All Litigation
Peloton and IFit have settled all pending litigation between the two companies. As a result, IFit has agreed to remove specific on-demand leaderboard technology from its products, and Peloton has agreed to license certain IFIT patents relating to remote control technology.
F45 Announces $150 Million Financing Facility To Accelerate U.S. Expansion
F45 Training Holdings, Inc. announced a strategic financing facility with affiliates of Fortress Credit Corp. The new facility will allow the fitness boutique operator to immediately offer eligible franchisees access to growth capital to support the development of new F45 studios across the U.S.
Fila USA’s Sales Slip In First Quarter
Fila Holdings reported sales at its Fila USA segment were KRW 135.3 billion ($104 mm) in the first quarter, down 8.1 percent on a reported basis and 15.1 percent on a currency-neutral basis.
Rally House Adds A New Store In Pittsburgh
Rally House opened a new store in Upper St. Clair, PA.
Nutrabolt Appoints Two New Board Members
Nutrabolt announced the appointments of Jody Macedonio, chief financial officer at Chobani, and Alicia LeBeouf, head of industry, retail at Meta, to its board of directors.
